My Charting Blog

It is interesting that I start off this Blog when the Singapore Stock Market is heading south. However, this makes it more interesting for me to write on as the market turned volatile. My interest is Technical Analysis, TA for short. I love to look at charts and predicting where they are heading. This blog is or me to record my thoughts on the market. The articles on this blog are based solely on my personal opinion on the charts that I read and readers should not take it as absolute.

7/06/2009

Nasdaq reversing

ig 1 Nasdaq Weekly

I was browsing through the indices when I came across Nasdaq. Both the weekly chart's indicators Stochastic and RSI are reversing downward with divergence. It seems to me that Nasdaq is heading south at this moment.

The support level is the neckline o the double bottom (DB) at 1,662. I would take this as normal since correction is needed before it moves northward.The final objective o this index would be 2,049 base on its DB measurement.

Labels: Nasdaq